Connecticut home sales ended 2016 on a high note

Single-family home sales in Connecticut increased by 2.7 percent on a year-over-year basis in December, according to data from The Warren Group, a real estate trade publisher. Last month, there were 2,656 single-family homes sold in the Nutmeg state, compared with with 2,587 sold in December 2015. On a year-to-date measurement, Connecticut sales were up 8.7 percent with 32,235 transactions, compared with 29,644 during the same time in 2015.

The median price of a single-family home in December was $240,000, 2.1 percent above the $235,000 level set a year ago. Year-to-date, prices were up by a slight 0.4 percent: $247,000 versus $246,000 during the same time one year earlier.

Condominium sales in Connecticut increased in December by 15.7 percent with 716 condos sold, up from 619 in December 2015. This was the highest level of December sales output since 2007. Year-to-date, condo sales were up 5.3 percent with 8,267 condos sold compared with 7,853 during the same timeframe last year. The median sale price for condos in December was $166,500, a 13.6 percent spike from the $146,500 level set in December 2015. However, median condo sale prices on a year-to-date measurement were down 0.3 percent to $162,450, compared with $163,000 at the same time last year.

“The Connecticut housing market had an outstanding year in terms of sales volume,” said Timothy Warren, CEO of The Warren Group. “Median prices remained steady and well below their peak in 2007. Buyers took advantage of low prices and scooped up more homes than in any of the past nine years.”